Sorry man, too complex for my Xbox. I prefer KISS, DAX near ATH, Euro swimming under 50% of range for the same time, so I don’t want to be neither a buyer of Euro or DAX here.
Ok understand but percentages are the real deal (and simple too) - when comparing something that is 1.08 / 1.09 to something that is 15k to 16k.
it’s not quite 1.08, you are leaving out the many pips after the 8 bit, in % terms they moved similar amount today. https://www.cashbackforex.com/tools/pip-calculator
Didn't think you were talking about a day-trade? As for price amounts, of course they were approximates because the prices are so far removed from one another they are meaningless. A few ticks here or there in just about market means nothing. A few percentage points sure do.
I don't day trade. Anyway, let's forget what I said about % comparisons, it is not about that, to me it is purely technical price zones where I look to either buy or sell, therefore, DAX stagnating near ATH and EUR stagnating near the very obvious and meaningful 50% of current high to low range to me indicates a shorting opportunity, I certainly would not want to be long here, only once DAX breaks ATH and pulls back, same for Euro, if it were to break through the 50 and pull back, then I would buy it. Hope this clarifies my reasoning. Let's not forget that you may be right, but you could still lose in a trade.
Think you might be right about EURUSD - though currently sitting on near term support:- EURGBP, EURJPY, EURAUD, EURNZD, EUCAD, EURCHF (especially) have all be in downtrend lately. DAX on the other hand, even if stagnant, is still close to ATH.
Tomorrow ZEW Economic Sentiment Index will be released with a forecast of -2 (consensus -5.3). If it goes negative, this will not be a great sign for an exporting country like Germany, others are minions in comparison.